Slingshot

Slingshot, operating as slingshot.finance, is a decentralized trading platform that emerged from the DeFi space. Originally founded as DEX.AG in 2018, the company underwent a significant rebranding in November 2020. This change coincided with a $3.1 million seed funding round led by Framework Ventures and included participation from notable investors like Coinbase Ventures, Digital Currency Group, and Winklevoss Capital. The company's inception traces back to a hackathon in 2018. It was co-founded by CEO Clinton Bembry, who previously worked as a software engineer at Coinbase and was a co-founder of Astro Wallet, which was acquired by Coinbase.

The firm operates as a decentralized exchange (DEX) aggregator, designed to provide users with optimal prices for token trades by pooling liquidity from various sources. The platform functions as a search engine for cryptocurrencies, indexing tokens with on-chain liquidity to find the best possible trading rates for its users. Slingshot targets both crypto-native traders and newcomers by offering a platform that supports searching, sending, receiving, and swapping a vast number of cryptocurrencies—over 50,000—with 0% swap fees. The service is accessible via a web application and a mobile wallet, supporting multiple blockchain networks including Polygon, Arbitrum, and BNB Chain. By connecting their own non-custodial wallets, users can trade directly without creating an account or sharing personal data, thus retaining full control over their assets.

Slingshot's growth trajectory includes a Series A funding round in December 2021, where it raised $15 million, led by Ribbit Capital. This brought its total funding to $18.1 million at the time. A key milestone in the company's history is its acquisition by Magic Eden, which was announced in April 2025. The platform's business model is centered on providing a seamless trading experience without charging swap fees, aiming to attract a high volume of users within the decentralized finance ecosystem.

Keywords: decentralized exchange, DEX aggregator, crypto trading, token swap, DeFi platform, blockchain technology, multi-chain support, non-custodial wallet, liquidity aggregation, digital assets